Segment Information

3 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Segment Information

Segment Information

We have three homebuilding segments operating in 16 states. Revenues in our homebuilding segments are derived from the sale of homes which we construct and from land and lot sales. Our reportable segments have been determined on a basis that is used internally by management for evaluating segment performance and resource allocations. The reportable homebuilding segments and all other homebuilding operations, not required to be reported separately, include operations conducting business in the following states:

West: Arizona, California, Nevada and Texas

East: Delaware, Indiana, Maryland, New Jersey, New York, Pennsylvania, Tennessee (Nashville) and Virginia

Southeast: Florida, Georgia, North Carolina (Raleigh) and South Carolina

Management’s evaluation of segment performance is based on segment operating income. Operating income for our homebuilding segments is defined as homebuilding, land sale and other revenues less home construction, land development and land sales expense, commission expense, depreciation and amortization and certain general and administrative expenses which are incurred by or allocated to our homebuilding segments. The accounting policies of our segments are those described in Note 1 above and Note 1 to our consolidated financial statements in our 2013 Annual Report.

	Three Months Ended
	December 31,
(In thousands)	2013		2012
Revenue
West	$	122,576	$	110,126
East	107,589		96,539
Southeast	63,005		40,237
Total revenue	$	293,170	$	246,902

	Three Months Ended
	December 31,
(In thousands)	2013			2012
Operating income (loss)
West	$	15,762		$	8,358
East	8,235			6,188
Southeast	5,628			2,330
Segment total	29,625			16,876
Corporate and unallocated (a)	(18,093		)	(20,477		)
Total operating income (loss)	$	11,532		$	(3,601	)

	Three Months Ended
	December 31,
(In thousands)	2013		2012
Depreciation and amortization
West	$	1,382	$	1,022
East	692		683
Southeast	391		318
Segment total	2,465		2,023
Corporate and unallocated (a)	442		692
Depreciation and amortization - continuing operations	$	2,907	$	2,715

	Three Months Ended
	December 31,
(In thousands)	2013		2012
Capital Expenditures
West	$	1,102	$	815
East	1,367		231
Southeast	446		24
Corporate and unallocated	285		702
Consolidated total	$	3,200	$	1,772

(In thousands)	December 31, 2013		September 30, 2013
Assets
West	$	691,337	$	680,346
East	384,620		369,937
Southeast	256,317		228,814
Corporate and unallocated (b)	600,559		707,692
Consolidated total	$	1,932,833	$	1,986,789

(a) Corporate and unallocated includes amortization of capitalized interest and numerous shared services functions that benefit all segments, the costs of which are not allocated to the operating segments reported above including information technology, national sourcing and purchasing, treasury, corporate finance, legal, branding and other national marketing costs.

(b) Primarily consists of cash and cash equivalents, consolidated inventory not owned, deferred taxes, capitalized interest and other items that are not allocated to the segments.